May 16, 2023 — &IFP Advisors Inc, a financial services firm based in the United States, has announced that it lowered its stake in Aptiv PLC (NYSE:APTV) by a whopping 73.9% during the fourth quarter of last year. This move was confirmed in the company’s most recent filing with the Securities and Exchange Commission (SEC), which revealed that it sold off 2,119 shares during this period. As of its latest SEC submission, IFP Advisors Inc currently owns just 749 shares of APTV stock, which is worth $76,000.
Aptiv Plc is a recognized technology and mobility architecture firm specializing in designing and manufacturing high-quality vehicle components. Its focus also goes beyond electrical and electronic systems as well as active safety technology solutions; it creates software and hardware foundations for advanced vehicle features and functionalities. The company caters to both global automotive and commercial vehicle markets.
These actions were driven by various decisions made among high-level executives of Aptiv Plc. One of them is William T. Presley–the company’s Chief Operating Officer–who happened to sell a total of seven thousand shares at an average price of $120 per piece on March 6th earlier this year. Post-trade developments indicate that he still directly owns approximately sixty-two thousand eight hundred thirty-three shares through his direct investment into the company.
Furthermore, we learn from relevant SEC filings that director Nancy E Cooper also sold six hundred sixty-nine shares on April twenty-seventh this year at an average price of $103.35 per share summing up to a total value of just over sixty-nine thousand dollars ($69,141.15). As a result, she now owns eleven thousand five hundred fifteen shares worth close to one million two hundred thousand dollars ($1,190,075.25).
Recent headlines have shown insiders selling their Aptiv stocks amounting to nearly twenty-seven thousand six hundred sixty-four shares collectively worth over three million dollars ($3,157,979). These sales were performed over the past three months and constitute a minimal .41% ownership of the firm’s total outstanding stock.
In conclusion, these insider trades suggest an apparent lack of market confidence despite its recent growth trajectory. It remains to be seen whether this trend will continue or if we will notice a renewed interest in the company from insiders.
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Aptiv PLC’s Growing Influence in the Automotive Industry
Aptiv PLC, a technology and mobility architecture company, is making waves in the global automotive and commercial vehicle markets. Its business revolves around designing and manufacturing vehicle components, providing electrical, electronic and active safety technology solutions, and creating software and hardware to form a robust foundation for vehicle features and functionality.
Recently, several hedge funds and other institutional investors added or reduced their stakes in the company. Kentucky Retirement Systems, Toroso Investments LLC, Hemenway Trust Co LLC, Fortis Advisors LLC, and FDx Advisors Inc. all increased their holdings in APTV by purchasing additional shares.
Amidst this activity in the market comes Oppenheimer’s recent research report on APTV’s shares. They cut their target price from $159 to $152 but maintained an “outperform” rating on the stock. Citigroup had previously increased its price target on APTV from $138 to $154 with a “buy” rating on the stock. However, Wolfe Research had cut its rating from “outperform” to “peer perform”. Deutsche Bank Aktiengesellschaft had also lowered APTV’s target price from $136 to $128.
Royal Bank of Canada remained optimistic as they raised APTV’s target price to $128 with an “outperform” rating amidst various hold and buy ratings from other analysts. Bloomberg.com shows that the stock currently holds a consensus rating of “Moderate Buy”, with an average target price of $133.29.
Shares of Aptiv opened at $92.93 on Tuesday with a 1-year low of $77.96 and high of $124.88. It has a market cap amounting to $25.14 billion with notable ratios like P/E ratio of 41:86 and price-to-earnings-growth ratio of 1:95.
The company’s latest earnings results show that it has exceeded analysts’ expectations for Q1 2023. With an earnings per share of $0.91, it surpassed estimates of $0.89 by $0.02. Furthermore, Aptiv posted revenues amounting to $4:85 billion during the first quarter, beating analysts’ expectations of $4:59 billion.
As institutional investors continue to shift their stance on APTV’s shares and research reports give varied outlooks on its target price, Aptiv continues to deliver positive results in the automotive industry. The company’s growing influence in technology solutions for both global automotive and commercial vehicle markets reinforces its position as a leading player in creating innovative software and hardware for optimal vehicular performances.
